Banks can't replicate these services because they are regulated and would be prohibited from lending to some of the customers based on their credit history. If

Banks can't replicate these services because they are regulated and would be prohibited from lending to some of the customers based on their credit history. If you can't afford to pay $35-1,000 upfront, the rest of your financial situation would be pretty grim. These companies are trying to dodge regulation claiming they're "self regulating", if they don't succeed in pushing that narrative then the party's over. https://www.abc.net.au/news/2020-09-03/buy-now-pay-later-regulation-fintech-senate-inquiry/12614068 https://www.abc.net.au/news/2020-09-03/buy-now-pay-later-reg...